on 12-20-2012 12:18 AM
I posted earlier about the new (April 2012) rule PayPal has regarding transferring money from bank account to PayPal account. You must now provide various information to confirm your identity. (THIS IS THROUGH THE PAYPAL SITE, NOT A SCAM.) I've already sent a photo ID with DOB and address, a bank statement with address, and now they want me to send a copy of my Social Security card w/ SSN. Is this absolutely required? Is there no way around this? I don't want to send this info unless it's absolutely required. I don't know if this is safe.
PLEASE DO NOT ANSWER UNLESS YOU HAVE THE ANSWER. (Sorry to yell, but last time I asked I got only comments, no answer.) I can't be the only one who's gone through this since according to PayPal, it's now required for everyone. I use PayPal with my bank account--no credit/debit card. I always have to transfer funds from my bank to my PayPal account and have a balance there in order to pay on eBay; PayPal doesn't take it out automatically. But unless I provide my SSN, PayPal won't let me transfer funds.
Here is the policy from the PayPal site itself:
PayPal is constantly working to ensure security by regularly screening the accounts in our system. We recently reviewed your account, and we need more information to help us provide you with secure service. We would like to return your account to regular standing as soon as possible. We apologize for the inconvenience.
What is the problem? • Dec 16, 2012: As of April, 2012, new Federal Regulations require Money Service Businesses, such as PayPal, to verify the identity of a customer before we can provide various services or product offerings. As a result, PayPal must ensure we have collected and verified important data such as customer name, address, date of birth, and national tax ID or social security number. Because we were not able to fully confirm your identity based on your current account information, we need to request additional supporting documentation from you.
You will continue to have full access to your PayPal account, but until we are able to confirm your identity, we may be unable to process certain types of customer initiated requests such as adding funds to your PayPal account.
(Your case ID for this reason is *omitted*.)
How can I return my account to regular standing?
It's usually pretty easy to take care of things like this. Most of the time, we just need a little more information about your account or latest transactions.
To help us resolve this issue, please go to the Resolution Center.
We'll review the information you provide and email you if we need more details.
Once you complete all of the checklist items, your case will be reviewed by one of our Account Specialists. We will send you an email with the outcome of the review.
on 12-20-2012 06:27 AM
Some additional info...
Can your bank issue you a debit card linked to your bank account?
Ordinarily, you shouldn't need to ADD MONEY to your Paypal account. When you initiate a payment, Paypal will pull the money from your bank account to fund it. These payments will go in the form of an echeck, which will take 3-5 business days to clear into the seller's Paypal account. The only time you can't fund an eBay payment with an echeck is if it is for a Buy It Now purchase where the seller has stipulated that Immediate Payment is Required.
on 12-20-2012 12:48 AM
This is what is on Paypal site, under all the fine print:
2.3 Identity Authentication. You authorize PayPal, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide your date of birth, a taxpayer identification number and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s license or other identifying documents at any time. If you use certain PayPal Services, federal law requires that PayPal verify some of your Information. PayPal reserves the right to close, suspend, or limit access to your Account and/or the PayPal Services in the event we are unable to obtain or verify this Information.
I've been on Paypal so long, but I don't remember ever having to mail anything. Either last year or earlier this year they requested my SS#, but that was when the government decided that Ebay sellers needed to pay taxes if they make over a certain amount. And I gave them the SS# through a link on their site. I never had to send a bank statement, only verify my account online.